ICMIF member Co-operators has joined the Climate and Equity Lab (Canada) as the national climate and equity partner, bringing an expanded network and enhanced capacity to address climate challenges impacting Canada’s most vulnerable communities. Founded by another Canadian ICMIF member, Gore Mutual Insurance in 2023 in collaboration with Social Innovation Canada (SI Canada) and York University’s Faculty of Environmental and Urban Change, the Climate and Equity Lab aims to combat climate impacts on those most at risk in urban environments.
Leveraging the cooperative and mutual models, this partnership signals a transformative approach in the insurance industry, where collaboration and transparency are driving change. Together, Gore Mutual and Co-operators are leading the way in identifying solutions that can be leveraged across the insurance industry to strengthen Canada’s resilience against climate change.
The lab’s first-phase findings, released in July 2024, outline key “levers of change” to help protect low-income and marginalised Canadians from climate impacts. By sharing these insights publicly, the lab aims to inspire further investments that support community resilience and informed policy development.
“The Climate and Equity Lab is a testament to how Insurance that does good can foster real change through collaboration,” said Andy Taylor, CEO of Gore Mutual. “With Co-operators joining, the lab will establish a National Advisory Council, bringing together Canada’s leading climate and equity advocates, thought leaders, and change-makers. Together, we’re setting a new standard in our industry, based on shared values.”
In a year marked by billions in climate-driven losses across Canada, Gore Mutual and Co-operators, two leading Canadian insurers, say they are coming together to help tackle the growing risks to vulnerable communities. This unprecedented partnership underscores that when it comes to protecting vulnerable communities, the stakes are too high for business as usual.
“Solving complex problems requires collaborative, innovative solutions, and interconnectivity across industries,” said Rob Wesseling, President and CEO, Co-operators and also ICMIF Chair. “The Climate and Equity Lab represents what is possible when like-minded organisations take a cooperative approach to developing impactful solutions. We’re proud to join Gore Mutual in the lab to help strengthen the financial security of Canadians and our communities.”
Gore Mutual and Co-operators invite other organisations, including mutuals, cooperatives, and credit unions, to join them in this critical work. Those interested in collaborating with the Climate and Equity Lab can reach out at [email protected].
